Gelonghui April 12 | Aviation New Technology (300424.SZ) announced that the company held the 38th meeting of the 5th board of directors on April 12, 2024 to review and pass the “Proposal on Signing an Investment Cooperation Agreement”. In order to develop aviation interior production and engine maintenance business, the holding subsidiary Tianhong Aviation Technology Co., Ltd. (“Tianhong Airlines”) plans to sign an “Investment Cooperation Agreement on Aviation Interior Production and Engine Maintenance Projects” with the Tianjin Port Free Trade Zone Management Committee (“Management Committee”).

Basically, according to the agreement, Tianhong Airlines will establish a project company in the Tianjin Port Free Trade Zone to engage in the production of commercial airliner aviation carpets, aircraft seats, cabin accessories, and engine maintenance, etc., with a total investment of 200 million yuan. The 2026 project company will have an output value of 100 million yuan in the management committee area. The management committee will provide facilities and support such as utility facilities, administrative permits, policy support, and industry support.